The Office of Foreign Assets Control this week updated and added to its Syria-related restrictions under several sanctions regimes, including restrictions related to “foreign sanctions evaders.” The agency also added various definitions and a new general license, along with updating other licenses, including changes to a license that authorizes certain legal services.
The U.K. last week updated a general license and guidance involving its price cap and servicing restrictions on Russian oil. The country’s Office of Financial Sanctions Implementation said the changes offer more clarity on certain exclusions and exceptions under the price cap, including by updating page six of the general license to clarify what type of services can be provided with Russian oil purchased at or below the cap. The agency also updated sections 4.1, 4.2 and 4.4 of its price cap guidance.
The U.K. on May 16 renewed a general license under its Russian sanctions regime that allows British citizens to buy tickets from a sanctioned party for "flights or rail journeys originating in, or within, Russia." It also authorizes activities "reasonably necessary to effect the purchase of such tickets for flights or rail journeys." The license was scheduled to expire May 23 and now runs until May 23, 2026.
The Office of Foreign Assets Control is updating the scope of an Iran-related general license to limit the computing power threshold for laptops, tablets and other personal computing devices that can be exported or reexported to Iran. The agency also revised its Iranian Transactions and Sanctions Regulations to make “additional conforming changes.”
The Office of Foreign Assets Control this week renewed a Venezuela-related general license to extend the current authorization for certain transactions with the country’s state-owned energy company. General License No. 8N, which replaces No. 8M (see 2311160051), authorizes certain transactions between Petroleos de Venezuela and Halliburton, Schlumberger, Baker Hughes and Weatherford International, with certain restrictions, through 12:01 a.m. EST Nov. 15. The license was scheduled to expire May 16.
Maurel & Prom received a specific license from the Office of Foreign Assets Control that authorizes certain activities involving Venezuela’s state-owned energy company Petroleos de Venezuela, the Paris-headquartered oil company announced May 6.
The Office of Foreign Assets Control on April 29 renewed an authorization for certain Russia-related energy transactions. General License 8I, which replaced GL 8H, authorizes certain transactions with several Russian energy companies through 12:01 a.m. EDT Nov. 1. The license was previously scheduled to expire May 1 (see 2310250012).
The Biden administration plans to let the Treasury Department’s general license for transactions with Venezuela’s state-owned energy company expire April 18 because the South American country has not fully met its democratic commitments, the State Department announced April 17.
The U.S. and the U.K. on April 12 expanded certain restrictions on Russia-related metals, including a new services ban on Russian aluminum, copper and nickel.
Sen. Rick Scott, R-Fla., is calling on the Biden administration to reimpose sanctions on Venezuela’s government for arresting political opposition leaders and blocking presidential candidate Maria Corina Machado from this year’s election.